He looked at it, shading his eyes with his practicable hand.

"I wonder who she is?" said Nell. "There's a field glass in the locker—get it. Can you see her name?"

He put the glass to his eyes and adjusted it; and, as he got the focus, an exclamation escaped him.

"What did you say?" inquired Nell.

"Nothing, only that she's a fine vessel," he said indifferently.

"Yes. I should like to be on her," said Nell. "Wouldn't you?"

He smiled grimly.

"I am content with the Annie Laurie," he replied.

She stared at him incredulously, then laughed.

"Thank you for the compliment; but you can't seriously prefer this dear old tub to that! I wonder whom she belongs to? How fast she travels. I should like to have a yacht like that."